Events | January 20–23, 2019

Insolvency and Restructuring partner Craig A. Barbarosh was quoted in the Associated Press on the Puerto Rico filing to restructure its debt through a bankruptcy-like process and the related impact on the US municipal bond market. Noting that the restructuring proceeding is in the very early stages and will evolve over time, he stated, "Think about it as a marathon. Today is the beginning of mile 1. A lot can and will happen." Local officials estimate that the process could take as long as four years, which adds to the complexity. Craig added, "It's going to be uncomfortable for some. It could mean everything from slightly higher taxes to . . . modest adjustments to noncritical services . . . to concessions by bondholders . . . They're going to pull all the different levers." ("Puerto Rico Faces Uncertain Future as Debt Saga Unfolds," May 4, 2017)

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